UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D. C. 20549

                                    FORM 10-Q

[X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
    SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended March 31, 2009
                               --------------

                                       Or

[ ]  TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
     SECURITIES EXCHANGE ACT OF 1934

For the transition period from                 to
                               ----------------   -----------------

Commission File No. 0-8693
                    -------

                              TRANSNET CORPORATION
                              --------------------
             (Exact name of registrant as specified in its charter)

<TABLE>
<CAPTION>

<C>                                                            <C>


          DELAWARE                                                         22-1892295
--------------------------------                                -----------------------------------
(State or other jurisdiction of                                (IRS Employer Identification Number)
incorporation or organization)

45 Columbia Road, Somerville, New Jersey                                   08876-3576
------------------------------------------                            ------------------
(Address of principal executive offices)                                   (Zip Code)

Registrant's Telephone Number, Including Area Code:                       908-253-0500
                                                                         ---------------
</TABLE>

--------------------------------------------------------------------------------
Former name, former address and former fiscal year, if changed since last Report

Indicate by check mark whether the registrant (1) has filed all reports required
to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during
the  preceding 12 months (or for such  shorter  period that the  registrant  was
required to file such reports), and (2) has been subject to such filing
requirements for the past 90 days.
                                                               Yes   X   No
                                                                   -----   -----

     Indicate by check mark whether the registrant is a large accelerated filer,
an accelerated  filer, a  non-accelerated  filer, or a smaller reporting company
(as defined in Rule 12b-2 of the Act)

         Large Accelerated Filer                Accelerated Filer
                                -----                             -----
         Non-accelerated Filer                  Smaller Reporting Company  X
                               -----                                     -----

Indicate by check mark whether the  registrant is a shell company (as defined in
Rule 12b-2 of the Act)
                                                                 Yes     X   No
                                                            -----      -----

Indicate the number of shares  outstanding  of each of the  issuer's  classes of
common stock, as of May 11, 2009: 4,823,304.


<PAGE>




                              TRANSNET CORPORATION
                              --------------------
                                    FORM 10-Q
                                    ---------
                                TABLE OF CONTENTS
                                -----------------


<TABLE>
<CAPTION>
                                                                                                    PAGE NO.
<S>                                                                                                    <C>
PART I.  FINANCIAL INFORMATION

         Consolidated Balance Sheets
                  March 31, 2009 (unaudited) and June 30, 2008                                         1


         Consolidated Statements of Operations (unaudited)
                  Three Months Ended March 31, 2009 and 2008                                           2
                  Nine Months Ended March 31, 2009 and 2008                                            3


         Consolidated Statements of Cash Flows (unaudited)
                  Nine Months Ended March 31, 2009 and 2008                                            4


         Notes to Consolidated Financial Statements                                                    5


     Item 2.  Management's Discussion and Analysis                                                    11


     Item 4.  Controls and Procedures                                                                 17


PART II.  OTHER INFORMATION
-------   -----------------


     Item 6.  Exhibits and Reports on Form 8-K                                                        18

     Signatures                                                                                       18
     Certifications                                                                                   19

</TABLE>


                                       i.




<PAGE>






                       TRANSNET CORPORATION AND SUBSIDIARY
                           CONSOLIDATED BALANCE SHEETS

<TABLE>
<CAPTION>


                                                                         March 31,                    June 30,
                                                                           2009                         2008
                                                                  ------------------------     -----------------------
                                                                        (unaudited)
<S>                                                                             <C>                           <C>

ASSETS:
CURRENT ASSETS

Cash and Cash Equivalents                                                      $    285,182           $    314,618
Restricted Cash                                                                     856,835                837,010
Accounts Receivable - Net                                                         4,542,826              6,477,948
Inventories - Net                                                                   487,597                265,977
Other Current Assets                                                                 33,109                 17,974
                                                                               ------------           ------------


TOTAL CURRENT ASSETS                                                           $  6,205,549           $  7,913,527

PROPERTY AND EQUIPMENT - NET                                                        145,799                271,695

OTHER ASSETS                                                                        207,144                204,162
                                                                               ------------           ------------


TOTAL ASSETS                                                                   $  6,558,492           $  8,389,384
                                                                               ============           ============

LIABILITIES AND STOCKHOLDERS' EQUITY:
CURRENT LIABILITIES:


Accounts Payable                                                                  2,437,412                845,579
Accrued Expenses                                                                    411,622                410,729
Lines of Credit                                                                     297,033              1,955,042
                                                                               ------------           ------------



TOTAL CURRENT LIABILITIES                                                      $  3,146,067           $  3,211,350

STOCKHOLDERS' EQUITY:

Capital Stock - Common, $.01 Par Value, Authorized 15,000,000 Shares;
Issued 7,408,524 at March 31, 2009 and June 30, 2008
[of which 2,585,220 are in Treasury at
March 31, 2009 and June 30, 2008]                                                    74,085                 74,085

Additional Paid-in Capital                                                       10,574,670             10,574,670

[Accumulated Deficit] Retained Earnings                                             (83,495)             1,682,114
                                                                               ------------           ------------

Totals                                                                           10,565,260             12,330,869

                                                                                                        (7,152,835)
Less: Treasury Stock - At Cost                                                   (7,152,835)            (7,152,835)
                                                                               ------------           ------------


TOTAL STOCKHOLDERS' EQUITY                                                        3,412,425              5,178,034
                                                                               ------------           ------------


TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY                                     $  6,558,492           $  8,389,384
                                                                               ============           ============



</TABLE>

          See Notes to Consolidated Financial Statements.


                                        1


<PAGE>





                       TRANSNET CORPORATION AND SUBSIDIARY
                      CONSOLIDATED STATEMENTS OF OPERATIONS
                                   (UNAUDITED)

<TABLE>
<CAPTION>


                                                                  THREE MONTHS ENDED MARCH 31,
                                                                 ------------------------------
                                                                2009                       2008
                                                                ----                       ----

REVENUE
<S>                                                                 <C>                        <C>

Equipment                                                   $   2,412,501           $   2,660,444
Services                                                        2,764,107               2,294,730
                                                            -------------           -------------

Total Revenue:                                                  5,176,608               4,955,174
                                                            -------------           -------------

COST OF REVENUE

Equipment                                                       2,151,508               2,496,337
Services                                                        2,296,009               1,745,805


Total Cost of Revenue                                           4,447,517               4,242,142
                                                            -------------           -------------

Gross Profit                                                      729,091                 713,032

Selling, General and Administrative Expenses                    1,316,505               1,647,460
                                                            -------------           -------------

Operating Loss                                                   (587,414)               (934,428)
                                                            -------------           -------------

Interest Income                                                     6,595                  11,864
Interest Expense                                                   (6,473)                   (926)
Gain on Disposal                                                    2,102                    --
                                                            -------------           -------------


Net Loss                                                    $    (585,190)          $    (923,490)
                                                            =============           =============


Basic and Diluted Net Loss Per Common Share                 $       (0.12)          $       (0.19)
                                                            =============           =============

Weighted Average Common Shares Outstanding - Basic
and Diluted                                                     4,823,304               4,823,304
                                                            =============           =============



</TABLE>

See Notes to Consolidated Financial Statements.

                                       2

<PAGE>



                       TRANSNET CORPORATION AND SUBSIDIARY
                      CONSOLIDATED STATEMENTS OF OPERATIONS
                                   (UNAUDITED)
<TABLE>
<CAPTION>


                                                                   NINE MONTHS ENDED MARCH 31,
                                                                  -----------------------------
                                                                2009                         2008
                                                                ----                         ----

REVENUE
<S>                                                                 <C>                        <C>
Equipment                                                   $      11,773,415           $      11,928,588
Services                                                            7,112,429                   9,308,978
                                                            -----------------           -----------------

Total Revenue:                                                     18,885,844                  21,237,566
                                                            -----------------           -----------------

COST OF REVENUE
Equipment                                                          10,457,198                  10,758,545
Services                                                            5,640,735                   6,409,110


Total Cost of Revenue                                              16,097,933                  17,167,655
                                                            -----------------           -----------------

Gross Profit                                                        2,787,911                   4,069,911


Selling, General and Administrative Expenses                        4,534,054                   4,964,873
                                                            -----------------           -----------------


Operating Loss                                                     (1,746,143)                   (894,962)
                                                            -----------------           -----------------


Interest Income                                                        19,940                      39,646

Interest Expense                                                      (41,506)                    (60,203)
Gain on Sale                                                            2,102                        --
                                                            -----------------           -----------------


Net Loss                                                    $      (1,765,607)          $        (915,519)
                                                            =================           =================


Basic and Diluted Net Loss Per Common Share                 $           (0.37)          $           (0.19)
                                                            =================           =================

Weighted Average Common Shares Outstanding - Basic
and Diluted                                                         4,823,304                   4,823,304
                                                            =================           =================


</TABLE>

See Notes to Consolidated Financial Statements.


                                       3


<PAGE>



                                  TRANSNET CORPORATION AND SUBSIDIARIES
                                  CONSOLIDATED STATEMENTS OF CASH FLOWS
                                               (UNAUDITED)

<TABLE>
<CAPTION>


                                                                   NINE MONTHS ENDED MARCH 31,
                                                                 ------------------------------
                                                                  2009                      2008
                                                                  ----                      ----

OPERATING ACTIVITIES:
<S>                                                                 <C>                        <C>

Net Loss                                                      $(1,765,607)          $  (915,519)
                                                              -----------           -----------
Adjustments to Reconcile Net Income
to Net Cash:
Depreciation and Amortization                                     109.880               173,531
Gain on Sale of Equipment                                          (2,102)                 --
Provision for Doubtful Accounts                                   (59,181)                 --

Changes in Assets and Liabilities:
(Increase) Decrease in:
Restricted Cash                                                   (19,825)                 --
Accounts Receivable                                             1,994,302                73,013
Inventory                                                        (221,620)               26,711
Other Current Assets                                              (15,135)              (52,354)
Other Assets                                                       (3,109)               (2,937)

Increase (Decrease) in:
Accounts Payable and Accrued Expenses                           1,592,726              (348,022)


Total Adjustments                                             $ 3,375,936           $  (130,058)
                                                              -----------           -----------


NET CASH - OPERATING ACTIVITIES                               $ 1,610,329           $(1,045,577)
                                                              -----------           -----------

INVESTING ACTIVITIES:

Capital Expenditures                                          $    (7,756)          $   (43,775)
Proceeds from the Sale of Equipment                                26,000                  --
                                                              -----------           -----------


NET CASH - INVESTING ACTIVITIES                               $    18,244           $   (43,775)
                                                              -----------           -----------

FINANCING ACTIVITIES:

Lines of Credit- Net                                          $(1,658,009)          $    65,947

NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS          $   (29,436)          $(1,023,405)

CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIODS                 314,618             2,462,442
                                                              -----------           -----------


CASH AND CASH EQUIVALENTS AT END OF PERIODS                   $   285,182           $ 1,439,037
                                                              -----------           -----------

Supplemental Disclosures of Cash Flow Information:
Cash paid during the period for:
Interest                                                      $    41,506           $    72,138
Income Taxes                                                  $     1,457           $     3,230



</TABLE>

See Notes to Consolidated Financial Statements.


                                       4

<PAGE>


                       TRANSNET CORPORATION AND SUBSIDIARY
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                                   (unaudited)

(1.)      BASIS OF PRESENTATION

          The accompanying unaudited financial statements have been prepared in
          accordance with accounting principles generally accepted in the United
          States of America for interim financial information and with the
          instructions to Form 10-Q and Article 8 of Regulation S-X. They do not
          include all of the information and footnotes required by accounting
          principles generally accepted in the United States of America for
          complete financial statements. In the opinion of management, all
          adjustments (consisting of normal recurring accruals) considered
          necessary in order to make the interim financials not misleading have
          been included and all such adjustments are of a normal recurring
          nature. The operating results for the three and nine months ended
          March 31, 2009 are not necessarily indicative of the results that can
          be expected for the year ending June 30, 2009.

          The balance sheet as of June 30, 2008 has been derived from the
          audited financial statements at such date, but does not include all of
          the information and footnotes required by accounting principles
          generally accepted in the United States of America for complete
          financial statements.

          The accounting policies followed by TransNet Corporation (the
          "Corporation") are set forth in Note 2 to the Corporation's
          consolidated financial statements in the Form 10-K for the fiscal year
          ended June 30, 2008.

          For further information, please refer to the consolidated financial
          statements and footnotes thereto included in the Corporation's Annual
          Report on Form 10-K for the year ended June 30, 2008.

          All material intercompany transactions have been eliminated in
          consolidation.

          Certain reclassifications have been made to prior period financial
          statements to conform to the current year presentation.

(2.)      SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

          (a) Consolidation: The consolidated financial statements include the
          accounts of the Corporation and its wholly owned subsidiary, Century
          American Corporation. Intercompany transactions and accounts have been
          eliminated in consolidation.

          (b) Inventory: Inventory consists of finished goods. The Corporation's
          inventory is valued at the lower of cost (determined on the average
          cost basis) or market.

          (c) Cash and Cash Equivalents: For the purposes of the statement of
          cash flows, the Corporation considers highly liquid debt instruments,
          purchased with a maturity of three months or less, to be cash
          equivalents.

          (d) Revenue Recognition: The Corporation's revenues are derived from
          both the sale of equipment and services provided to customers.
          Revenues related to equipment sales are recognized when evidence of an
          arrangement exists, delivery has occurred, the sales price is both
          fixed and determinable, and collectability is reasonably assured, in
          accordance with SEC Staff Accounting Bulletin No. 104 Topic 13.


                                       5

<PAGE>


          Revenues related to services provided are recognized ratably over the
          term of the underlying customer contract or at the end of the contract
          when obligations have been satisfied, in accordance with SEC Staff
          Accounting Bulletin No. 104 Topic 13. For service performed on a time
          and materials basis, revenue is recognized upon performance.

          The Corporation also enters into revenue arrangements in which
          customers may purchase a combination of equipment and services
          (multiple-element arrangements). When vendor-specific objective
          evidence ("VSOE") of fair value exists for all elements, revenue is
          allocated to each element based on the relative fair value of each of
          the elements. VSOE of fair value is established by the price charged
          when that element is sold separately. For services, VSOE of fair value
          is established by the rates charged when they are sold separately. For
          arrangements where VSOE of fair value exists only for the undelivered
          elements, we defer the full fair value of the undelivered elements and
          recognize the difference between the total arrangement fee and the
          amount deferred for the undelivered items as revenue, assuming all
          other criteria for revenue recognition have been met.

          (e) Earnings Per Share: Earnings per common share - basic and diluted
          are based on 4,823,304 weighted shares outstanding for the three and
          nine months ended March 31, 2009 and 2008. The options to purchase an
          aggregate of 297,500 shares of our common stock at a price of $0.88
          per share were not included in the computation of diluted earnings per
          share for the periods ended March 31, 2009 because the options'
          exercise price was greater than the average market price of the common
          shares.

(3.)      NEW ACCOUNTING PRONOUNCEMENTS

          In September 2006, the FASB issued Statement of Financial Accounting
          Standards ("SFAS") No. 157, FAIR VALUE MEASUREMENTS ("SFAS 157") , to
          define how the fair value of assets and liabilities should be measured
          in accounting standards where it is allowed or required. In addition
          to defining fair value, the Statement established a framework within
          GAAP for measuring fair value and expanded required disclosures
          surrounding fair value measurements. In February 2008, the FASB issued
          FASB Staff Position (FSP) FAS 157-2, EFFECTIVE DATE OF FASB STATEMENT
          NO. 157, which delayed the effective date by one year for all
          nonfinancial assets and nonfinancial liabilities, except those that
          are recognized or disclosed at fair value in the financial statements
          on a recurring basis. In October 2008, the FASB issued FSP FAS 157-3 ,
          DETERMINING THE FAIR VALUE OF A FINANCIAL ASSET WHEN THE MARKET FOR
          THAT ASSET IS NOT ACTIVE, to clarify the application of SFAS 157 in a
          market that is not active and provides an example to illustrate key
          considerations in determining the fair value of a financial asset when
          the market for that financial asset is not active. This FSP was
          effective immediately. In April 2009, the FASB issued FSP FAS 157-4,
          DETERMINING FAIR VALUE WHEN THE VOLUME AND LEVEL OF ACTIVITY FOR THE
          ASSET OR LIABILITY HAVE SIGNIFICANTLY DECREASED AND IDENTIFYING
          TRANSACTIONS THAT ARE NOT ORDERLY, to provide additional guidance for
          estimating fair value when the volume and level of activity for the
          asset or liability have significantly decreased. This FSP will be
          effective for interim and annual reporting periods ending after June
          15, 2009. We adopted SFAS 157 for financial assets and financial
          liabilities on July 1, 2008, and the adoption did not have a material
          impact on our financial position, results of operations, or cash
          flows. We adopted SFAS 157 for nonfinancial items on July 1, 2009, and
          the adoption did not have a material impact on our financial position,
          results of operations, or cash flows. We currently do not have any
          financial assets that are valued using inactive markets, and as such
          are not impacted by the issuances of FSP 157-3 and FSP 157-4. See Note
          4 to the Consolidated Financial Statements for additional discussion
          on fair value measurements.

          In December 2007, the FASB issued SFAS No. 141(R), BUSINESS
          COMBINATIONS ("SFAS 141(R)"). SFAS 141(R) establishes principles and
          requirements for how a company (a) recognizes and measures in their
          financial statements the identifiable assets acquired, the liabilities
          assumed, and


                                       6

<PAGE>



          any noncontrolling interest (previously referred to as minority
          interest); (b) recognizes and measures the goodwill acquired in a
          business combination or a gain from a bargain purchase; and (c)
          determines what information to disclose to enable users of the
          financial statements to evaluate the nature and financial effects of a
          business combination. SFAS 141(R) requires fair value measurements at
          the date of acquisition, with limited exceptions specified in the
          Statement. Some of the major impacts of this new standard include
          expense recognition for transaction costs and restructuring costs.
          SFAS 141(R) was effective for fiscal years beginning on or after
          December 15, 2008 and is applied prospectively. The Corporation does
          not expect the adoption of SFAS 141R to have a material impact on its
          financial statements.

          In December 2007, the FASB issued SFAS No. 160, NONCONTROLLING
          INTERESTS IN CONSOLIDATED FINANCIAL STATEMENTS, AN AMENDMENT OF ARB
          NO. 51 ("SFAS 160"). SFAS 160 addresses the accounting and reporting
          for the outstanding noncontrolling interest (previously referred to as
          minority interest) in a subsidiary and for the deconsolidation of a
          subsidiary. It also establishes additional disclosures in the
          consolidated financial statements that identify and distinguish
          between the interests of the parent's owners and of the noncontrolling
          owners of a subsidiary. This Statement is effective for fiscal years
          beginning on or after December 15, 2008. SFAS 160 requires retroactive
          adoption of the presentation and disclosure requirements for existing
          minority interests. All other requirements of SFAS 160 are applied
          prospectively. The Corporation does not expect the adoption of SFAS
          160 to have a material impact on its financial statements.

          In March 2008, the FASB issued SFAS No. 161, DISCLOSURES ABOUT
          DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES ("SFAS 161"). SFAS 161
          requires enhanced disclosures about (a) how and why an entity uses
          derivative instruments, (b) how derivative instruments and related
          hedged items are accounted for under SFAS No. 133, ACCOUNTING FOR
          DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES, and its related
          interpretations, and (c) how derivative instruments and related hedged
          items affect an entity's financial position, financial performance,
          and cash flows. This Statement is effective for financial statements
          issued for fiscal years and interim periods beginning after November
          15, 2008. This Statement encourages, but does not require, comparative
          disclosures for earlier periods at initial adoption. The adoption of
          this Statement requires us to present currently disclosed information
          in a tabular format and also expands our disclosures concerning where
          derivatives are reported on the balance sheet and where gains/losses
          are recognized in the results of operations. The Corporation does not
          have any transactions covered by SFAS 161 therefore it has not had a
          material impact on the Corporation's consolidated financial
          statements.

          In April 2008, the FASB issued FASB FSP No. 142-3, DETERMINATION OF
          THE USEFUL LIFE OF INTANGIBLE ASSETS ("FSP FAS 142-3"). FSP FAS 142-3
          removed the requirement of SFAS No. 142, GOODWILL AND OTHER INTANGIBLE
          ASSETS ("SFAS 142"), for an entity to consider, when determining the
          useful life of an acquired intangible asset, whether the intangible
          asset can be renewed without substantial cost or material modification
          to the existing terms and conditions associated with the intangible
          asset. FSP FAS 142-3 replaces the previous useful life assessment
          criteria with a requirement that an entity considers its own
          experience in renewing similar arrangements. If the entity has no
          relevant experience, it would consider market participant assumptions
          regarding renewal. This should lead to greater consistency between the
          useful life of recognized intangibles under SFAS 142 and the period of
          expected cash flows used to measure fair value of such assets under
          SFAS No. 141(R), BUSINESS COMBINATIONS. FSP FAS 142-3 is not expected
          to have a significant impact on our consolidated financial statements.

          In November 2008, the Emerging Issues Task Force ("EITF") issued EITF
          Issue No. 08-7, ACCOUNTING FOR DEFENSIVE INTANGIBLE Assets. EITF Issue
          No. 08-7 clarifies the accounting for certain separately identifiable
          assets, which an acquirer does not intend to actively use but intends
          to hold to prevent its competitors from obtaining access to them. EITF
          Issue No. 08-7 requires an acquirer to account for a defensive
          intangible asset as a separate unit of accounting, which should be

                                       7


<PAGE>


          amortized to expense over the period the asset diminishes in value.
          The provisions of EITF Issue No. 08-7 were adopted prospectively on
          January 1, 2009. This EITF Issue did not impact our financial
          position, results of operations, or cash flows during the third
          quarter of fiscal 2009.

          In December 2008, the FASB issued FSP FAS 132(R)-1, EMPLOYERS'
          DISCLOSURES ABOUT POSTRETIREMENT BENEFIT PLAN ASSETS, which amends
          Statement No. 132(R) to require more detailed disclosures about
          employer's plan assets, including investment strategies, major
          categories of assets, concentrations of risk within plan assets and
          valuation techniques used to measure the fair value of assets. The FSP
          is effective for fiscal years ending after December 15, 2009. The
          Corporation will comply with the additional disclosure requirements.

          In April 2009, the FASB issued FSP No. FAS 107-1 and APB 28-1, INTERIM
          DISCLOSURES ABOUT FAIR VALUE OF FINANCIAL INSTRUMENTS. This FSP amends
          FASB Statement No. 107, DISCLOSURES ABOUT FAIR VALUE OF FINANCIAL
          INSTRUMENTS, to require disclosures about fair value of financial
          instruments for interim reporting periods of publicly traded companies
          as well as in annual financial statements. This FSP also amends APB
          Opinion No. 28, INTERIM FINANCIAL REPORTING, to require those
          disclosures in summarized financial information at interim reporting
          periods. This FSP shall be effective for interim reporting periods
          ending after June 15, 2009. The Corporation will comply with the
          additional disclosure requirements beginning in the fourth quarter of
          fiscal 2009.

          In April 2009, the FASB issued FSP No. FAS 115-2 and FAS 124-2,
          RECOGNITION AND PRESENTATION OF OTHER-THAN-TEMPORARY Impairments. This
          FSP amends the other-than-temporary impairment guidance in U.S. GAAP
          for debt securities to make the guidance more operational and to
          improve the presentation and disclosure of other-than-temporary
          impairments on debt and equity securities in the financial statements.
          The FSP does not amend existing recognition and measurement guidance
          related to other-than-temporary impairments of equity securities. The
          FSP shall be effective for interim and annual reporting periods ending
          after June 15, 2009. The Corporation currently does not have any
          financial assets that are other-than-temporary impaired.

          In April 2009, the SEC released Staff Accounting Bulletin No. 111
          ("SAB 111"), which amends SAB Topic 5-M. SAB 111 notes that FSP No.
          115-2 and FAS 124-2 were scoped to debt securities only, and the FSP
          referred readers to SEC SAB Topic 5-M for factors to consider with
          respect to other-than-temporary impairments for equity securities.
          With the amendments in SAB 111, debt securities are excluded from the
          scope of Topic 5-M, but the SEC staff's views on equity securities are
          still included within the topic. The Corporation currently does not
          have any financial assets that are other-than-temporary impaired.

          In April 2009, the FASB issued FSP No. FAS 141(R)-1, ACCOUNTING FOR
          ASSETS ACQUIRED AND LIABILITIES ASSUMED IN A BUSINESS COMBINATION THAT
          ARISE FROM CONTINGENCIES, to address some of the application issues
          under SFAS 141(R). The FSP deals with the initial recognition and
          measurement of an asset acquired or a liability assumed in a business
          combination that arises from a contingency provided the asset or
          liability's fair value on the date of acquisition can be determined.
          When the fair value can't be determined, the FSP requires using the
          guidance under SFAS No. 5, ACCOUNTING FOR CONTINGENCIES, and FASB
          Interpretation (FIN) No. 14, REASONABLE ESTIMATION OF THE AMOUNT OF A
          LOSS. This FSP was effective for assets or liabilities arising from
          contingencies in business combinations for which the acquisition date
          is on or after January 1, 2009. The adoption of this FSP has not had a
          material impact on our financial position, results of operations, or
          cash flows during the third quarter of fiscal 2009.

(4.)      FAIR VALUE MEASUREMENTS

          We adopted SFAS No. 157 on July 1, 2008 for all financial assets and
          liabilities and nonfinancial assets and liabilities that are
          recognized or disclosed at fair value in the financial statements on a


                                       8

<PAGE>


          recurring basis (at least annually). SFAS No. 157 defines fair value,
          establishes a framework for measuring fair value, and expands
          disclosures about fair value measurements.

          SFAS No. 157 defines fair value as the price that would be received
          upon sale of an asset or paid upon transfer of a liability in an
          orderly transaction between market participants at the measurement
          date and in the principal or most advantageous market for that asset
          or liability. The fair value should be calculated based on assumptions
          that market participants would use in pricing the asset or liability,
          not on assumptions specific to the entity. In addition, the fair value
          of liabilities should include consideration of non-performance risk
          including our own credit risk.

          In addition to defining fair value, SFAS No. 157 expands the
          disclosure requirements around fair value and establishes a fair value
          hierarchy for valuation inputs. The hierarchy prioritizes the inputs
          into three levels based on the extent to which inputs used in
          measuring fair value are observable in the market. Each fair value
          measurement is reported in one of the three levels which is determined
          by the lowest level input that is significant to the fair value
          measurement in its entirety. These levels are:

          o    Level 1 - inputs are based upon unadjusted quoted prices for
               identical instruments traded in active markets.
          o    Level 2 - inputs are based upon quoted prices for similar
               instruments in active markets, quoted prices for identical or
               similar instruments in markets that are not active, and
               model-based valuation techniques for which all significant
               assumptions are observable in the market or can be corroborated
               by observable market data for substantially the full term of the
               assets or liabilities.
          o    Level 3 - inputs are generally unobservable and typically reflect
               management's estimates of assumptions that market participants
               would use in pricing the asset or liability. The fair values are
               therefore determined using model-based techniques that include
               option pricing models, discounted cash flow models, and similar
               techniques.

          The following table presents assets that are measured and recognized
          at fair value on a recurring basis.

           DESCRIPTION         MARCH 31, 2009      LEVEL 1   LEVEL 2    LEVEL 3
           -----------         --------------      -------   -------    -------

          Certificate of Deposit $ 856,835         $ -     $ 856,835      $ -

(5.)      COMMITMENTS

          The Corporation previously financed inventory purchases through a
          credit line with a finance company, with a maximum credit line of
          $2,500,000, which was terminated by the Corporation. The Corporation
          currently utilizes credit available from multiple vendors under terms
          which provide for interest free periods ranging from 30 to 60 days.
          The credit extended by the vendors is secured by substantially all of
          the Corporation's assets. The vendors may in their sole discretion
          from time to time determine the maximum amount of credit which they
          elect to extend.


                                       9

<PAGE>


(6.)      INCOME TAXES

          The following reconciles the tax provision with the U.S. statutory tax
          rates:

<TABLE>
<CAPTION>


                                                                   NINE MONTHS ENDED MARCH  31,

                                                                     2009              2008
<S>                                                                  <C>                 <C>

Income taxes at U.S. statutory rate                                  (35.0)%         (35.0)%

State taxes, net of federal tax benefit                               (6.0)           (6.0)

Tax benefit of federal net operating tax loss carryforward            41.0            41.0

TOTAL EXPENSE (BENEFIT)                                                  0%              0%
                                                                    ========        ========

</TABLE>


          At June 30, 2008, the Corporation had a federal net operating tax loss
          carryforward of approximately $6,855,000 expiring on June 30, 2028.
          The Corporation has provided a valuation allowance of $2,800,881
          against its deferred tax assets; this represents a full valuation
          allowance due to the uncertainty about the realization of the deferred
          tax asset.

                                       10

<PAGE>



ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS
OF OPERATIONS

SPECIAL NOTE ABOUT FORWARD LOOKING STATEMENTS Certain statements in Management's
Discussion and Analysis ("MD&A"), other than purely historical information,
including estimates, projections, statements relating to our business plans,
objectives, and expected operating results, and the assumptions upon which those
statements are based, are "forward-looking statements" within the meaning of the
Private Securities Litigation Reform Act of 1995, Section 27A of the Securities
Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These
forward-looking statements generally are identified by the words "believe,"
"project," "expect," "anticipate," "estimate," "intend," "strategy," "plan,"
"may," "should," "will," "would," "will be," "will continue," "will likely
result," and similar expressions identify forward-looking statements, but are
not the exclusive means of identifying such statements and their absence does
not mean that a statement is not forward-looking. Forward-looking statements are
based on current expectations and assumptions that are subject to risks and
uncertainties, which may cause actual results to differ materially from the
forward-looking statements. We undertake no obligation to update or revise
publicly any forward-looking statements, whether as a result of new information,
future events, or otherwise.


RESULTS OF OPERATIONS
---------------------

Overall revenues increased in the quarter ended March 31, 2009 as compared to
the same period in the prior year, primarily due to an increase in service
revenues, as discussed below. Revenues from equipment sales decreased slightly.
Revenues for the quarter ended March 31, 2009 were $5,176,608, as compared to
$4,955,174 for the quarter ended March 31, 2008. For the quarter ended March 31,
2009, the Corporation reported a net loss of $585,190 as compared with net loss
of $923,490 for the similar period in the prior fiscal year. Revenues and
earnings decreased in the nine month period ended March 31, 2009 as compared to
the same period in the prior year, primarily due to an overall slowdown and a
decrease in service revenues. Revenues for the nine months ended March 31, 2009
were $18,885,844 as compared with $21,237,566 for the same period in fiscal
2008, with a net loss of $1,765,607 for the nine-month period ended March 31,
2009, compared with net loss of $915,519 for the same period in the prior fiscal
year.

The loss for the quarter ended March 31, 2009 was attributable to the decrease
in equipment revenues, and a mix of lower margined service revenues. Revenues
from equipment sales in both the March 31, 2009 quarter and nine-month period
decreased slightly as compared to the same periods in fiscal 2008. In addition,
the product mix for the 2009 periods discussed contained a lower amount of
higher profit equipment, such as Voice over IP ("VoIP") systems. This was
particularly true during the second quarter when sales were largely comprised of
lower profit margin equipment. Management notes that the Corporation's higher
profit margin staffing services, although not a material source of revenues,
were also adversely impacted by the economic slowdown as hiring on either a
permanent or temporary basis virtually ground to a halt. Service revenues
increased during the March 2009 quarter over the prior year as a result of
increased demand for services. The reduction in technical service revenues in
the nine-month period ended March 31, 2009, particularly during the second
fiscal quarter of fiscal 2009, was due to a number of factors, including an
overall slowdown in new orders, an "on hold" status of several projects pending
third party progress on the projects, and the completion of projects during the
second quarter resulting in downtime of some technical personnel. Management
notes that construction related delays are inherent in a number of projects
because the Corporation's portion of the project cannot be performed until a
specified amount of the construction has been completed and/or certain
determinations made as to specifics of the project due to customer-originated
change orders. These gaps are generally offset by new business. In addition, the
Corporation absorbed expenses related to under-utilization of its technical
staff during the slowdown, particularly during the second quarter. This is
particularly

                                       11

<PAGE>



significant regarding the compensation levels for the more highly
skilled members of the staff, whose skills demand higher wages. Management
believes that the slowdown is attributable to general economic conditions, as
well as uncertainty of our governmental and educational clients regarding the
proposed federal stimulus package. The stimulus package is expected to provide
an influx of capital for these clients to use for programs such as security and
first-responder technology. Once the funds have been implemented, these clients
anticipate initiation of spending on these programs. During the quarter and nine
month period ended March 31, 2009, spending on many of these projects was on
hold awaiting funding parameters. These delays and reductions also impacted the
profit margin on revenues from equipment sales because clients postponed
purchases of higher profit margin equipment such as VoIP systems. As a result of
these factors, although overall profit margins for the comparative March
quarters remained at 14%, the nine month margins declined to 15% for the
nine-month period ended March 31, 2009, as compared to 19% for the nine-month
period in the prior year, primarily as a result of the reduced margins during
the December 2008 quarter. The results for the nine-month period ended March 31,
2009 were significantly impacted by the results of the December quarter.

Despite the results reported herein, management is cautiously optimistic about
the results for the remainder of fiscal 2009. Although revenues decreased as a
result of the general slowdown in the economy and the budgetary constraints of
state and municipal entities and educational clients within New Jersey, based
upon orders received in the first quarter of calendar 2009, it appears that
these constraints have lessened and our open orders have increased. Initial
reaction to the federal stimulus plan indicates that the proposed stimulus
package will infuse funds into public sector clients, including governmental and
educational clients, and to clients in healthcare for products sold and
supported by the Corporation. Requests for quotations have already been
received, and have outpaced requests at this time last year, particularly with
respect to the educational market. Management notes that recent changes
instituted by the State of New Jersey modify the channels through which the
State purchases IT equipment and services. As previously disclosed, in
anticipation of these changes and their implementation, the State's purchasing
during the past four quarters was significantly reduced. This was largely due to
the extended process of negotiation of new contracts between the State and major
IT manufacturers. During the March quarter, these contracts were finalized and
executed. TransNet has been named by these manufacturers as an approved vendor
for a significant number of IT, communication, and security products pursuant to
these contracts. While no assurances can be given, management believes that the
Corporation is well positioned for growth of its business under these contracts
and that sales under these contracts will have a significant and positive impact
on results during the second half of calendar 2009.

In light of the economic slowdown, the Corporation's clients restricted their IT
budgetary spending and scrutinized their IT spending and the related returns on
investments before incurring new expenses, often delaying purchases. This was
particularly the case in the December 2008 quarter, as general economic
conditions declined, credit tightened, and clients cut budgets. As a result,
management has directed attention to new service offerings that take into
account clients' cost constraints. Management believes that as a single source
provider, the Corporation will be in a better position to satisfy client demands
for cost-effectiveness and a suitable return on investment. The VoIP networks
marketed by TransNet are designed with the capacity for "optimization" through
the subsequent addition of layers of solutions, for example, physical security
solutions. We are confident that our strategy of being an advanced solutions
provider will result in future revenues from clients' optimization of already
installed networks. In conjunction with these solutions, we note the
technologies of the integration of voice, video, and data that provide clients
with new levels of operating efficiencies.

Service related revenues, a material segment of revenues, are significant
because these operations yield a higher profit margin than equipment sales.
Services include planning, design, configuration, installation and
implementation, testing, and optimization of systems. Because of industry
changes over the past few years, project work became the major source of revenue
generation, as legacy services diminished. The transition to project work is
complete and the lower level of legacy services had no impact on the results


                                       12

<PAGE>


of operations during the fiscal 2009 periods as compared to the prior year. The
Corporation modified its service offerings in response to these industry
fluctuations, and employs experienced and specially certified systems engineers
and project managers to respond to VoIP projects. We believe our focus upon
higher margin services related to VoIP/IP Telephony and security will lead to
growth and opportunities for the Corporation. Revenues are also generated by a
variety of support contracts for these networks. Under these agreements,
TransNet's Support Center provides troubleshooting, diagnostic and remedial
services performed by skilled system engineers, remotely or on-site, if
necessary. The agreements provide a range of guaranteed response times, based
upon the client's specific response requirements or the nature of the outage.
The availability of these services is determined by the client, from 24/7 to
next business day. In addition, our system engineers and service technicians
provide service and support on an on-call basis. Service contracts, with a
number of corporate and educational customers, provide service and support for
the customer's personal computers, peripherals, and networks. These contracts
are short-term, and contain provisions which permit early termination. Although
the contracts generally contain renewal terms, there is no assurance that such
renewals will occur.

In addition to the challenging economic environment, the computer industry has
experienced a continuing trend of decreasing prices of computers and related
equipment. Management believes that this trend will continue. Industry-wide, the
result of price erosion has been lower profit margins on sales, which require
businesses to sell a greater volume of equipment to maintain past earning
levels. Another result of the price decreases has been intensified competition
within the industry, including the consolidation of businesses through merger or
acquisition, as well as the increased initiation of sales by certain
manufacturers directly to the end-user and the entrance of manufacturers into
technical services business. Management believes that the adoption of policies
by many larger corporate customers, which limit the number of vendors permitted
to provide goods and services for specified periods of time, has further
increased price competition.

To meet these competitive challenges and to maximize the Corporation's profit
margin, management has modified its marketing strategy and has enforced expense
controls. Management also utilizes approaches such as manufacturers' direct
shipment and billing of the customers in exchange for payment to the Corporation
of an "agency fee" as a means to reduce equipment related costs while increasing
profits. These direct ship sales are an alternative to sales through traditional
channels. Management's current marketing strategy is designed to shift its focus
to provision of technical services and to sales of higher profit margin products
related to service and support operations. Management's efforts include
targeting commercial, educational, and governmental customers who provide
marketplaces for a wide range of products and services at one time, a
cost-effective approach to sales. These customers often do not have their own
technical staffs and outsource their computer service requirements to companies
such as TransNet. Management believes it maximizes profits through concentration
on sales of higher profit margin systems and value-added applications; promotion
of the Corporation's service and support operations; and strict adherence to
cost cutting controls. In light of the above, management emphasizes and
continues the aggressive pursuit of an increased volume of sales of VoIP
systems, and related technical service and support programs, and has introduced
new technical support programs offering a wide variety of alternatives of remote
and on-site network support and monitoring. Management believes that product
sales will continue to generate a significant percentage of the Company's
revenues. In addition, the Corporation's buying agreement with Ingram Micro,
Inc. enhances the Corporation's competitive edge through product discounts
unavailable through other sources.

The Corporation's performance is also impacted by other factors, many of which
are not within its control. These factors include: industry and general economic
conditions; the short-term nature of client commitments; patterns of capital
spending by clients; the timing and size of new projects; pricing changes in
response to competitive factors; the availability and related costs of qualified
technical personnel; timing and customer acceptance of new product and service
offerings; trends in IT outsourcing; and product constraints.


                                       13


<PAGE>



During the quarter ended March 31, 2009, selling, general and administrative
expenses decreased to 25% from 33% of revenues for the comparative quarter in
the prior year as a function of decreased expenses and revenues. Similarly,
selling, general and administrative expenses for the nine-month period of fiscal
2009 increased to 24% from 23% of revenues for the comparative period in the
prior year because of decreased revenues. Actual expenses decreased for both
2009 periods as the Corporation undertook a number of staff reductions, and
implemented salary freezes, salary reductions, and other cost reduction
programs. The results of these cost-saving measures will be realized more fully
through the remainder of fiscal 2009 and forward. Management continues its
efforts to control expenses, despite increasing personnel related costs, such as
health benefits.

Interest income decreased in the quarter and nine-month period ended March 31,
2009 as compared to the comparative periods in fiscal 2008 as a result of lower
interest rates and lower amounts invested. Interest expense decreased in the
comparative periods of 2009 from those in 2008 due to decreased financing for
working capital needs.

The effects of inflation on our operations were not significant during the
periods presented.

LIQUIDITY AND CAPITAL RESOURCES
-------------------------------

There are no material commitments of the Corporation's capital resources, other
than leases, lines of credit, and employment contracts.

Cash and cash equivalents increased in the nine-month period ended March 31,
2009, partially as a result of decreased selling, general and administrative
expenses. Cash levels continue to be impacted by the slow payment cycles of
public sector clients. The Corporation has entered into a credit arrangement to
assist in funding operations, as necessary. The borrowing is secured by certain
of the Corporation's assets.

Accounts receivable decreased during the nine months ended March 31, 2009, due
to reduced revenues. Although the Corporation continues to be impacted by the
extended and slower payment cycles of governmental agencies, management has
initiated vigorous efforts to expedite payments from the governmental bodies and
is working to implement more favorable payment schedules where possible. Efforts
during the period expedited some payments. Management notes that payment terms
with governmental clients are usually dictated by the client.

Inventory increased for the nine-month period ended March 31, 2009 because of
open orders at the end of the period. The increase in accounts payable in the
nine-month period is directly attributable to the product orders placed near the
end of the March quarter and purchases made outside our credit lines.

We require access to working capital from third party lines of credit and vendor
credit to fund our day-to-day operations, particularly at the end of our fiscal
quarters when demand for our products and services increase. In conjunction with
the tightening of credit in the US economy, which has negatively impacted our
access to credit, management has reviewed the Corporation's lines of credit and
available vendor credit and has taken steps to obtain the most favorable credit
arrangements available.

The Corporation currently finances the purchases of portions of its inventory
through credit line arrangements with third-party lenders, under which certain
of the Corporation's assets secure the financed purchases. The arrangements
provide for specified interest free payment periods. The Corporation previously
financed inventory purchases through a credit line with a finance company, with
a maximum credit line of $2,500,000, which was terminated by the Corporation. In
its place, management utilizes various vendor credit options, all of which
provide the Corporation with more favorable payment terms than those available


                                       14


<PAGE>



under the prior credit line. Outstanding balances under the credit line
arrangements decreased in the nine-month period ended March 31, 2009 because
purchases were made outside the credit line arrangement. Management believes
that its currently available credit, although in the aggregate slightly less
than the prior arrangement, will be sufficient to meets its requirements going
forward. The unavailability of such credit going forward may have an adverse
impact upon the operations of the Corporation.

For the fiscal quarter and nine months ended March 31, 2009, as in the similar
periods in the prior year, the internal resources of the Corporation were
sufficient to enable the Corporation to meet its obligations, including
obligations under the above referenced credit facilities.


CRITICAL ACCOUNTING POLICIES
----------------------------

The Corporation's financial statements are prepared in accordance with
accounting principles that are generally accepted in the United States. The
methods, estimates, and judgments used in applying these most critical
accounting policies have a significant impact on the results reported in the
financial statements. The Securities and Exchange Commission has defined
critical accounting policies as policies that involve critical accounting
estimates that require (a) management to make assumptions that are highly
uncertain at the time the estimate is made and (b) different estimates that
could have been reasonably used for the current period, or changes in the
estimates that are reasonably likely to occur from period to period, which would
have a material impact on the presentation of our financial condition, changes
in financial condition or in result of operations. Based on this definition, the
most critical policies include: revenue recognition, allowance for doubtful
accounts, and valuation of deferred tax assets.

Revenue Recognition
-------------------

The Corporation's revenues are derived from both the sale of equipment and
services provided to our customers. Revenues related to our equipment sales are
recognized when evidence of an arrangement exists, delivery has occurred, the
sales price is both fixed and determinable, and collectability is reasonably
assured, in accordance with SEC Staff Accounting Bulletin No. 104 Topic 13.

Revenues related to services provided are recognized ratably over the term of
the underlying customer contract or at the end of the contract when obligations
have been satisfied, in accordance with SEC Staff Accounting Bulletin No. 104
Topic 13. For service performed on a time and materials basis, revenue is
recognized upon performance.

The Corporation enters into revenue arrangements in which customers may purchase
a combination of equipment and services (multiple-element arrangements). When
vendor-specific objective evidence ("VSOE") of fair value exists for all
elements, we allocate revenue to each element based on the relative fair value
of each of the elements. VSOE of fair value is established by the price charged
when that element is sold separately. For services, VSOE of fair value is
established by the rates charged when they are sold separately. For arrangements
where VSOE of fair value exists only for the undelivered elements, we defer the
full fair value of the undelivered elements and recognize the difference between
the total arrangement fee and the amount deferred for the undelivered items as
revenue, assuming all other criteria for revenue recognition have been met.

Accounts Receivable
-------------------

Accounts receivable are reported at their outstanding unpaid principal balances
reduced by an allowance for doubtful accounts, based on certain percentages of
aged receivables. We estimate doubtful accounts


                                       15


<PAGE>


based on historical bad debts, factors related to specific customers' ability to
pay and current economic trends.

Income Tax Accounting
---------------------

The Corporation determines its provision for income taxes using the asset and
liability method. Under this method, deferred tax assets and liabilities are
recognized for the future tax effects of temporary differences of existing
assets and liabilities and their respective tax bases. Future tax benefits of
tax loss and credit carryforwards also are recognized as deferred tax assets.
When necessary, deferred tax assets are reduced by a valuation allowance to the
extent the Corporation concludes there is uncertainty as to their ultimate
realization. Deferred tax assets and liabilities are measured using enacted tax
rates in effect for the year in which those temporary differences are expected
to be recovered or settled. The effect on deferred taxes of a change in tax
rates is recognized in income in the period that the change is enacted.

For the nine-month period ended March 31, 2009 and fiscal year ended June 30,
2008, the Corporation had no current or deferred income tax provision. Deferred
taxes are based upon differences between the financial statement and tax basis
of assets and liabilities and available net operating loss carryforwards. A full
valuation allowance has been established due to the uncertainty about the
realization of the deferred tax asset.


INVESTMENT CONSIDERATIONS AND UNCERTAINTIES
THE MATTERS DISCUSSED IN MANAGEMENT'S DISCUSSION AND ANALYSIS AND THROUGHOUT
THIS REPORT THAT ARE FORWARD-LOOKING STATEMENTS ARE BASED ON CURRENT MANAGEMENT
EXPECTATIONS THAT INVOLVE RISK AND UNCERTAINTIES. POTENTIAL RISKS AND
UNCERTAINTIES INCLUDE, WITHOUT LIMITATION: THE IMPACT OF ECONOMIC CONDITIONS
GENERALLY AND IN THE INDUSTRY FOR IT PRODUCTS AND SERVICES; DEPENDENCE ON KEY
VENDORS AND CUSTOMERS; CONTINUED COMPETITIVE AND PRICING PRESSURES IN THE
INDUSTRY; PRODUCT SUPPLY SHORTAGES; OPEN-SOURCING OF PRODUCTS OF VENDORS,
INCLUDING DIRECT SALES BY MANUFACTURERS; RAPID PRODUCT IMPROVEMENT AND
TECHNOLOGICAL CHANGE, SHORT PRODUCT LIFE CYCLES AND RESULTING OBSOLESCENCE
RISKS; TECHNOLOGICAL DEVELOPMENTS; CAPITAL AND FINANCING AVAILABILITY; AND OTHER
RISKS SET FORTH HEREIN.


                                       16


<PAGE>


ITEM 4. CONTROL AND PROCEDURES

The Chief Executive Officer and Chief Financial Officer of the Corporation have
concluded, based on their evaluation as of March 31, 2009, that the
Corporation's disclosure controls and procedures are not effective to ensure
that information required to be disclosed by the Corporation in the reports
filed or submitted by it under the Securities Exchange Act of 1934, as amended
(the "Exchange Act"), is recorded, processed, summarized and reported within the
time periods specified in the SEC's rules and forms, and include controls and
procedures designed to ensure that information required to be disclosed by the
Corporation in such reports is accumulated and communicated to the Corporation's
management, including the Chief Executive Officer and Chief Financial Officer,
as appropriate to allow timely decisions regarding required disclosure.

In light of this conclusion, the Corporation has initiated documentation of its
policies and procedures, and will institute compensating procedures and
processes as necessary to ensure the reliability of its financial reporting.
Management intends to remediate weaknesses in the control environment through
new resources and processes in its accounting department. Management believes
that its actions will continue to improve the Corporation's internal control
over financial reporting, as well as its disclosure controls and procedures.

There were no significant changes in the Corporation's internal controls or in
other factors that could significantly affect these controls subsequent to the
date of such evaluation. The Corporation has commenced a review by its internal
staff, including its accounting staff, of new processes to provide an evaluation
of the level of controls and related procedures currently in place for each
process.


                                       17

<PAGE>


                                     PART II
                                OTHER INFORMATION



ITEM 6: EXHIBITS AND REPORTS ON FORM 8-K

        A. Exhibits -
           31.1 Certification required by Section 302
           31.2 Certification required by Section 302
           32 Certification required by Section 906

        B. Reports on Form 8-K -
           On February 19, 2009, TransNet Corporation filed a Form 8-K under
           Item 7.01.




                                   SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.

                                     TRANSNET CORPORATION
                                     (Registrant)


                                     /s/ Steven J. Wilk
                                     --------------------------------------
                                     Steven J. Wilk, President and
                                     Chief Executive Officer


                                    /s/ John J. Wilk
                                    ---------------------------------------
                                    John J. Wilk,
                                    Principal Financial and Accounting Officer
                                    And Chairman of the Board of Directors



DATE:  May 15, 2009


                                       18